Pooled interest savings accounts, otherwise known as prize-linked savings accounts (PLSAs), are one way in which financial organizations can encourage their customers to save money. Interest earned on deposits from a plurality of customers can be combined and entered into a lottery in which a customer can win cash or other rewards. The possibility of winning such a lottery can encourage customers to save more so that they can accumulate interest needed to enter the lottery.
Regulations regarding lotteries vary throughout the United States. Some states permit cash lotteries; whereas, other states prohibit such lotteries. In addition, for states that permit cash lotteries, rules and regulations can vary from state to state.